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10 Strategies For Offshore Banking Operations

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  • Jurisdiction

Starting an offshore enterprise is many times challenging because of the multiple jurisdictions available, depending the purpose of your offshore business.

  • Offshore Banking Licenses

Offshore banking licenses are classified in two types, type A to take deposits everywhere including the offshore jurisdiction and type B to take deposits everywhere except for in the offshore jurisdiction.

  • U.S. Banking License

Since 2012 one of the associated territories of the u. S., Puerto Rico, is offering a license for international banking. It works like an offshore banking license type B.

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Jurisdictions to incorporate an offshore company

There are plenty of places, where you could incorporate your offshore company, which suit and serve different business needs. We recommend jurisdictions that provide the minimum requirements of zero liability, confidentiality, and asset protection. Depending on your business structure and objectives, Belize is one of the best options to choose. Other compelling jurisdictions to consider, depending on your business plan are Cayman, BVI, Antigua and New Zealand. Here are some of the best features of certain locations.

  • For simplicity:  Seychelles, Nevis or Belize.
  • For asset protection: Cook Islands.
  • For operating a business internationally: Panama.
  • For doing business in Asia: Hong Kong or Singapore.
  • For financial services or ForEx licensed entity:  Belize, Panama or New Zealand.
  • For hedges funds or compatibility with U.S. regulation: Cayman Islands.

Operating through an offshore company allows you to conduct your business efficiently and on a level of privacy and anonymity. Holding bank accounts and assets in an offshore company, rather than in your name, maximizes security. In many jurisdictions, the company officers, shareholders, and beneficial owners are not on public record and their privacy is guaranteed by statute.

  • Offshore Corporation
  • Offshore sole-member Limited Liability Company (LLC)
  • Offshore multi-member LLC

A sole member offshore LLC is treated as a disregarded entity for the IRS. This investment and asset protection structure has simplified U.S. reporting requirements and will reduce your annual maintenance costs with the IRS if selected.

A sole-member offshore LLC is best suited for the following:

  • To manage your Self Directed IRA. 
  • To hold an offshore bank account for a U.S. resident seeking asset protection. 
  • To hold an international business that is expected to generate net profits that are less than the Foreign Earned Income Exclusion.

A multi-member offshore LLC is also a flow-through entity for U.S. tax purposes. However, it is reported as a partnership and requires a complex tax return. Offshore LLC partnerships are primarily used in joint venture arrangements.

To discuss the benefits of IBCs and LLCs, click the button below and schedule a consultation. We will gladly give you more details about the offshore structures and their requirements, clarify any information and answer all of your questions.

Our Offshore Company Package includes:

 

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Setup Fee
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Offshore Bank Account
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Setup Fee
$10000
Offshore Platinum Package
Offshore Corporation in Belize
Offshore Bank Account in Cayman
Offshore Trust in Belize
Tax Consulting 1-Year For U.S. Investors Via Email
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Testimonials

Thanks to FAS & CPA Consultants and Fulton Abraham Sanchez, CPA, I was able to resolve a debt of $479,677.71 that I had with the IRS.

Gala Cedeño

My experience with FAS CPA & Consultants has been incredible, their professionalism is impeccable. I highly recommend them.

Carlos Lange

I highly recommend FAS CPA & Consultants, they are responsible, efficient and very dedicated.

David Barceló

 

Get a complimentary offshore strategy review today. Email us at support@fascpaconsultants.com

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